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TradFi is a high-risk
product.

// RISK DISCLOSURE · RESTRICTED REGIONS · FULL STATEMENT

Before using Mullet, please make sure you fully understand the market, leverage, technology and compliance risks involved in trading TradFi derivatives. This page also lists the restricted regions where Mullet does not offer services — please confirm that access is permitted where you are.

01 · RESTRICTED REGIONS

Not available in the following regionsMullet Services Are Not Available In:

// WHY THE RESTRICTIONS?
Even though signing up requires no ID documents, we strictly respect local regulation. Some jurisdictions explicitly prohibit trading TradFi derivatives, appear on international sanctions lists, or have yet to clarify how crypto assets are regulated.
// HOW WE DETECT
IP geolocation · blocked in the client and re-checked on the server
// USER RESPONSIBILITY
Bypassing regional restrictions by technical means such as a VPN is treated as a breach of the Terms of Service, and we reserve the right to terminate service.
// RESPONSIBILITY
Users must confirm that access to this service is permitted in their region. Consequences of access in breach of these rules are the user's own responsibility.
// FULLY RESTRICTED
USAUKCanadaMainland ChinaIranNorth KoreaSyriaCubaRussiaBelarusCrimea

Mullet offers no services at all in the regions above, because regulation prohibits TradFi derivatives there or they appear on international sanctions lists. Technical circumvention such as VPNs is not permitted and results in immediate termination of access once detected.

// PARTIALLY RESTRICTED
Australia　leverage capped at 5×Japan　leverage capped at 10×South Korea　leverage capped at 10×Germany　only some asset classes availableFrance　only some asset classes availableTürkiye　derivatives trading not offered

Mullet is accessible in the regions above, but with restricted features or parameters. The restricted-region list may change as local regulation evolves — please confirm the legal position where you are before using the service.

02 · RISK DISCLOSURE

TradFi is a high-risk productHigh-Risk Product. Read Carefully.

// REGULATORY STATUS
Regulatory status — Mullet has completed registration of its Dubai UAE entity and a licence application is in progress. It does not currently hold a financial licence and is therefore not covered by any regulator's investor protection scheme. Please confirm the compliance position in your region before using the service.
/ 01

Leverage risk

Leverage magnifies gains and losses equally. At 10× leverage, a 10% move against you is enough to wipe out that position's margin. Mullet provides negative balance protection, so your maximum loss is limited to the assets in your account.

/ 02

Market risk

TradFi contract prices follow the underlying market. Opening gaps, liquidity vacuums and flash crashes can all mean a preset stop-loss does not execute at the price you specified.

/ 03

Technology risk

Blockchain congestion, oracle anomalies and device failures can all affect execution. Our advice: never trade with more money than you can afford to lose.

// FULL RISK STATEMENT
TradFi contracts are high-risk leveraged investment products. Investors should fully understand the market risks involved, including but not limited to price volatility risk, leverage risk, liquidity risk, technology risk, compliance risk and counterparty risk. Investing in TradFi contracts may result in the loss of all of your initial margin. Mullet provides negative balance protection: your maximum loss is limited to the assets in your trading account, and any shortfall beyond that is not pursued. Mullet strongly recommends that investors: 1. read the Risk Disclosure Statement, the Terms of Service and the Trading Rules in full before starting to trade; 2. trade only with spare funds, never with borrowed money or funds needed for living expenses; 3. fully understand the market characteristics, volatility patterns and leverage mechanics of the instruments traded; 4. set sensible stop-loss and position-sizing strategies and stay rational about gains and losses; 5. consult an independent financial adviser if in any doubt. All market information, price data and research provided by Mullet is for reference only and does not constitute investment advice or an offer. Final trading decisions are made independently by the user, who bears the resulting gains, losses and risks.